How Arrival intends to disrupt the delivery van market

Arrival, a British startup that plans to offer electric vans and buses beginning later this year, will join U.S. and Chinese EV companies with billion-dollar valuations when it merges with a special purpose acquisition company (SPAC) in a deal that will value it at about $5.4 billion. With backing from investors including Hyundai, Kia and the logistics giant UPS, Arrival says it will sell electric vans at the price of an equivalent diesel model, built in flexible “microfactories” to keep costs down. Avinash Rugoobur, Arrival’s president and a former head of strategy at General Motors’ Cruise self-driving division, explained to Automotive News Europe Correspondent Nick Gibbs why that multibillion-dollar valuation is justified.